Financial ForecastFollowing weaker-than-expected 3Q results, withdrawal of its 2024 outlook due to sales challenges at a major US QSR customer and product launch delays from longer-than-expected customer onboarding, analysts have lowered the 2024/25 adjusted EBITDA forecast.
Product Launch DelaysMainly due to longer-than-expected onboarding of new business and to a lesser extent, capacity startup–related issues, management expects delays in certain new product launches to result in 2024 revenue and EBITDA guidance coming in at the low end.
Sales ChallengesSales challenges at a major QSR customer drove the 3Q EBITDA miss while the new sales pipeline remains strong.